Contemporary Multifamily
For Sale
$2,600,000
1540 RIDGE AVENUE 42, Philadelphia, PA 19130
The property offers central air, electric systems, and CMX25 zoning.
Property Size10,500 SF
Price / SF$247.62
Days on Market105
Property Features for 1540 RIDGE AVENUE 42
General Information
Standard status
Active
Size
10,500 SF
Property subtype
Residential Income
Zoning
CMX25
Taxes and HOA fees
Annual Taxes
$1,701
Amenities
Accessible Elevator Installed
Central Air, Electric
Electric, Central
Oven, Electric Water Heater, Dishwasher, Disposal, Dryer, Refrigerator, Stainless Steel Appliance(s), Washer, Water Heater, Microwave, ENERGY STAR Qualified Appliances
Kitchen Island, Recessed Lighting, Open Floorplan
On Street
Contemporary
Building Details
Building Size
10,500 SF
Year Built
2019
Stories
5
Listed By:
Bob Kiziroglou
(267) 353-4123
Source:
Evrealestate
Added: Jul 10
Changed: Oct 21
Last Checked: Oct 20 at 9:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bob Kiziroglou
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2019, this 10,500-square-foot multifamily property has a contemporary exterior and an open-floorplan interior with recessed lighting and kitchen islands. Interior features include central air and electric systems, along with a range of kitchen and laundry appliances.
The property is at the corner of 16th and Ridge in Philadelphia and is zoned CMX25.
The property is at the corner of 16th and Ridge in Philadelphia and is zoned CMX25.
Key Highlights
- 10,500‑square‑foot multifamily property
- Built in 2019 with a contemporary exterior
- CMX25 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,160
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,303,200
$3.3M
Cap Rate 7%
$2,359,429
$2.4M
Cap Rate 9%
$1,835,111
$1.8M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$318.8K $30.36/SF
− Vacancy
−$18.5K −$1.76/SF
EGI
$300.3K $28.60/SF
− OpEx
−$135.1K −$12.87/SF
NOI
$165.2K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,303,200
Cap Rate 7%
$2,359,429
Cap Rate 9%
$1,835,111
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $165,160 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.56M
$2.24M – $2.99M
NOI $179,181 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
3,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property offers central air, electric systems, and CMX25 zoning.
Where is this multifamily property located?
The property is located at 1540 RIDGE AVENUE 42 Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 10,500‑square‑foot multifamily property; Built in 2019 with a contemporary exterior; CMX25 zoning
